Ethiopia's EV Market Sees Leap Forward with a 30% Market Share Target by 2030

NEV, General News, Market Data
The Ethiopian government has announced significant progress in its electric vehicle (EV) market, reaching over 100,000 EVs in just two years. The ten-year target has been raised to 500,000 vehicles. With plans to ban internal combustion engine (ICE) vehicle imports, Ethiopia aims to save foreign currency and promote EV adoption. The country's low electricity costs are conducive to EV proliferation. Additionally, tax incentives for EVs are provided to boost local assembly and component manufacturing.
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